# Exercise: Forecast - Using Range Names in Formulae

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The answer to the exercise will be included and explained if you attend one of more of the courses listed below!

 Category ==> Excel 2013  (10 exercises) Topic ==> Range names and absolute references  (7 exercises) Level ==> Average difficulty Courses ==> Excel Introduction  /  Advanced Excel  /  Excel Business Modelling
Before you can do this exercise, you'll need to download and unzip this file (if you have any problems doing this, click here for help).

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Open the file in folder shown above.

Create range names for the growth, wages and utilities %figures (Hint: there is a quick menu option that can do all 3 together for you).

Remember you can press F3 to see a list of names for your formulae

Create a formulae in cell C4 that calculates the projected sales and uses the range name for Growth (see next page for help with the formula).

Create a formula in cell C5 that calculates the projected Direct Costs and uses the range name for Wages inc (see below for help with the formula).

Create a formula in cell C6 that calculates the projected  Indirect Costs and uses the range name for Utilities inc (see below for help with the formula).

Create a formula in cell C7 that calculates the Basic Profits.  Use the following to help you with each formula:

Projected Sales = This Year Sales * Growth%

Projected Direct Costs = This Year Direct Costs * Wages inc%

Projected Indirect Costs = This Year Indirect Costs * Utilities inc%

Projected Basic Profits = Proj Sales - Proj Direct Costs - Proj Indirect Costs

Check that all the answers change when you change the % figures for the Growth, Wages inc and Utilities inc.

Re-save the file with the same name and close it.